Property is 100 Percent Leased
All Leases are NNN
All Tenants are Internet Resistant
507 Jubilee Lane, Germantown Hills, IL 61548
* Sale Price $1,050,000
* 92 Days on Market
* Closed in 87 Days
Cap Rate 7.75%
Rentable SF 11,033 SF
Price per SF $113.61
Year Built 1996
Lot Size 2.18 Acres
Marcus & Millichap is pleased to present Germantown Crossing shopping center in Germantown Hills, Illinois. The four-tenant center is next door to the local Ace Hardware and Dollar General. Germantown Hills is a bedroom community in the Peoria, Illinois metropolitan statistical area.
The property's signature tenant is Anytime Fitness with a lease that expires in 2029. Recently, a tenant moved out and the Liquor Shoppe took over the space to open a video gaming parlor. These are very difficult licenses to get, provide a very stable revenue strip and they are hard to relocate due to state statute.
The owner of the center owns all of the parking spaces in front of the building and Dollar General has a cross easement agreement to use the spaces as well. Dollar General also reimburses expenses, electrical, and taxes for the parking lot.